KUALA LUMPUR, May 9 — An unemployed man today pleaded not guilty in the Sessions Court here to abetting a former managing director of Multi-Code Electronics Industries (M) Bhd in defrauding the company of RM17.6 million in 2007.
Daniel Wong Jit Kiang, 69, was charged with abetting the late Gordon Toh Chun Toh in using Multi-Code’s funds to finance the purchase of over 11 million Multi-Code shares by Ace Prelude Sdn Bhd.
Of this amount, RM17.5 million was transferred to the account of Kenanga Investment Bank Berhad at Standard Chartered Bank Berhad here for the purchase of the shares.
The offence was allegedly committed at Kenanga Investment Bank Berhad, Taman Pelangi, Johor Bahru between March 26 and 28, 2007.
Wong was charged under Section 122C(c) read together with Section 87A(b) of the Securities Industries Act 1983 (SIA) and may be liable to a fine of not less than RM1 million and a jail term of not exceeding 10 years on conviction.
Deputy public prosecutor Hashley Tajudin did not offer bail while Wong’s lawyer Wan Shahrizal Wan Ladin asked for a low bail, saying his client is bankrupt and suffering from a heart disease.
Judge Azrul Darus did not allow bail and set June 11 for mention for submission of documents.
In a statement, the Securities Commission (SC) said Wong had been at large for 15 years despite numerous efforts made to locate him and two separate warrants of arrest issued against him in 2009 and 2019.
According to the SC, Wong was a flight risk and had previously absconded the country even when he had ongoing criminal charges against him in a separate case by the SC.
“The outcome today underscored the importance of international cooperation and collaboration between the SC and international law enforcement agencies in ensuring perpetrators of securities laws are brought to face the law,” it said.
Toh, a Singaporean, had previously been charged by the SC for the principal offence under Section 87A(b) of the SIA in 2009.
Toh was also charged in the alternative for committing a criminal breach of trust under Section 409 of the Penal Code.
Toh was convicted by the Sessions Court on the alternative charge after a full trial and was sentenced to 12 years’ imprisonment and a fine of RM1 million, in default two years’ imprisonment.
He then filed an appeal to the High Court against his conviction and sentence.
However, he passed away before his appeal was heard by the High Court. — Bernama
